317a & 400 Hoe Street, Walthamstow, E17 9AA

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1 North East London Residential Led Development Opportunity 317a & 400 Hoe Street, Walthamstow, E17 9AA Red line boundary for indicative purposes only

2 Summary Residential-led two-site development opportunity in the heart of Walthamstow. Linked planning permissions for two schemes comprising a total of 54 apartments (43 private sale, 4 intermediate, 7 affordable rent) and 395 sq m (4,251 sq ft) flexible commercial space (Use class A1/A2/B1/D1). 317a Hoe Street is a 0.06 hectare (0.14 acre) site used as a car wash / tyre fitting service. 400 Hoe Street extends to approximately 0.16 hectares (0.4 acres) and is in use as a car workshop. The sites are approximately 600 metres from both Walthamstow Central (London Underground and rail) station and Walthamstow Queen s Road rail station. For sale freehold. Location Walthamstow is situated in north east London, approximately 10 km (6 miles) from the West End and 8 km (5 miles) from the City of London. The area is bounded by the Lee Valley and the Walthamstow Reservoirs to the west, Epping Forest to the east and the North Circular Road (A1400) to the north. Hoe Street runs south to north through the centre of Walthamstow and 317a and 400 Hoe Street are approximately 600 metres south of the town square and Walthamstow Central Station. Walthamstow is one of London s fastest growing, upand-coming districts, benefitting from the City s move eastwards and the push outwards from Londoners moving away from prime central areas. Walthamstow provides an extensive retail offer with a vibrant town centre, a Shopping mall and is home to Walthamstow Market, the longest single street market in Europe. Walthamstow Village, an area of attractive Victorian and Georgian streets and an enclave of artisan and independent shops, bars and restaurants on Orford Road is approximately 500 metres north east of the sites. The area benefits from excellent access to the leisure activities and green open spaces of the Lea Valley to the west and Epping Forest to the east and north east, along with Lloyd Park, home to the William Morris Gallery in the heart of the town. Barclay Primary School, which was judged Outstanding by Ofsted in May 2016, is adjacent to 400 Hoe Street. Transport connections are very good. The sites are approximately 600 metres south of Walthamstow Central Station, which provides access to London Underground (Victoria Line) and London Overground services. This provides access to the West End and The City with direct services to King s Cross (16 minutes), Oxford Circus (19 minutes) and Liverpool Street (19 minutes). Walthamstow Queen s Road Station is 600 metres to the north west and provides access to London Overground services on the East London Line direct towards Barking to the East and through East and North London to Hampstead Heath and on to West London. A number of bus services run along Hoe Street. Walthamstow Queens Road Station Walthamstow Central Station Red line for indicative purposes only. Walthamstow Village NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number Savills (UK) Ltd.NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed.

3 Description and Situation The opportunity for sale comprises two sites approximately 50 metres apart on either side of Hoe Street. Site 1 located at 317a Hoe Street, occupies a corner plot at the junction of Hoe Street and Grove road and is in use as an open air car wash and tyre fitting service. The site is laid to tarmac and extends to approximately 0.06 hectares (0.14 acres) with access from Grove Road to the North and Hoe Street to the West. The site is bounded to the south by a part three storey/ part four storey telephone exchange and to the east by a two storey Victorian terrace. Site 2 located at 400 Hoe Street, fronts Hoe Street and is in use as a car workshop with ancillary offices. The centre of the site is laid to tarmac, with vehicular access to the yard at the rear. A two-storey commercial building fronts Hoe Street. The existing building extends to approximately 814 sq m (8,762 sq ft) and the site extends to approximately 0.16 hectares (0.4 acres), with access from Hoe Street and the forecourt. The site is bounded to the north by Barclay Primary School, to the south by a retail terrace, and to the west by the car park of a residential block. CGI of proposed scheme. Planning The sites are located within the London Borough of Waltham Forest close to the boundary of the Lea Valley Regeneration Corridor. There are no listed buildings on site and neither site is in a Conservation Area. Planning permission (Ref: ) at Site 1 has been granted for: 317a Hoe Street, Walthamstow E17 9BD Demolition of existing building and construction of 3-5 storey building to form 16 residential units comprising 7 x 1-bed, 7 x 2-bed and 2 x 3-bed flats. Provision of amenity space, cycle storage and refuse collection area. Planning permission (Ref: ) at Site 2 has been granted for: 400 Hoe Street, Walthamstow E17 9AA Demolition of existing building and construction of a 3-5 storey building to form 38 residential units comprising of 16 x 1-bed, 17 x 2-bed and 5 x 3-bed flats, commercial space at ground floor level of 395sq.m in use class A1, A2, B1 and D1. Provision of amenity space, cycle shed and refuse stores and 4 off-street disabled parking spaces. The planning permissions are subject to linked Section 106 Agreements that require financial contributions of 78,150. A viability review mechanism may result in the payment of a financial contribution for the provision of affordable housing. The development will be liable for Mayoral and London Borough of Waltham Forest CIL and the estimated liability provided in the Planning Officer s Committee Report is 351,720. CGI of proposed scheme: Site 1

4 Proposed Development The proposed scheme will comprise comprehensive redevelopment of each site for a high quality residential led development. The proposal contains 54 dwellings across sites 1 and 2. The applications are linked via S106 agreement. Site 1 has permission for 5 units for private ownership and 11 affordable units. The scheme extends over ground to fourth floor. Site 2 has permission for 38 units for private ownership. 295 sq m (3,175 sq ft) of commercial floor space is proposed at part ground and lower ground floor level fronting Hoe Street. The scheme is laid out over lower ground to third floor level. Amenity space is provided through private gardens, terraces and balconies to the individual residential units. Proposals include five units designed to be suitable for disabled residents and 4 wheelchair accessible parking bays. Method of Sale and Tenure The property is for sale freehold, subject to the existing leases, and will be sold by way of informal tender (unless sold prior). The property at 317a Hoe Street is leased for a term expiring on 24th February 2017 for a rent of 30,000 per annum. There is a landlord break option that can be exercised with one months notice and the lease is contracted outside the Landlord and Tenant Act The property at 400 Hoe Street is leased for a term expiring on 27th February 2017 for a rent of 39,000 per annum. There is a landlord break option that can be exercised with one months notice and the lease is contracted outside the Landlord and Tenant Act Summary Residential Mix 1 bed 2 Bed 3 Bed Total Site 2 Private Sale Site 1 - Private Sale Private Sale Sub Total Site 1 - Intermediate Site 1 - Affordable Rent Affordable Sub Total Total Summary Residential NSA Site 1 Site 2 Sq M Sq Ft Sq M Sq Ft Private Sale 292 3,143 2,362 25,424 Private Sale Sub Total 2,654 Sq M 28,567 Sq Ft Intermediate 247 2, Affordable Rent 441 4, Affordable Sub-Total 688 Sq M 7,406 Sq Ft Total ,549 2,362 25,424 Summary GIA Schedule Residential: Sq M Sq Ft Site 1 (Private) 372 4,004 Site 2 (Affordable) 910 9,795 Site 2 (Private) 3,506 37,738 Total 4,788 51,538 Commercial: Sq M Sq Ft Commercial( A1/A2/B1/D1) 375 4,036 Scheme Total GIA 5,163 55,574 Site 1: Red line boundary for indicative purposes only Site 2: Red line boundary for indicative purposes only

5 317a & 400 Hoe Street, Walthamstow, E17 9AA CGI of proposed scheme: Site 2 NOTE:- Reproduced from the Ordnance Survey Map with the permission of the Controller of H.M. Stationery Office. Crown copyright licence number Savills (UK) Ltd.NOTE:- Published for the purposes of identification only and although believed to be correct accuracy is not guaranteed. CGI of proposed scheme: Site 2

6 Red line boundary for indicative purposes only

7 North East London Residential Led Development Opportunity 317a & 400 Hoe Street, Walthamstow, E17 9AA VAT The property is not elected for VAT. Further Information Further detailed information can be found on the following website: Viewings The site can be viewed from the public highway. The planning permission provides for demolition of the existing buildings at both sites. If you require an inspection of the existing buildings please contact the joint sole selling agents to make an appointment. Contact Savills UK Ltd Darren Arnold Strettons Chris Collins Sean Cooper Sean Crowhurst Important Notice Savills, their clients and any joint agents give notice that: 1. They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. 2. Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance only and are not necessarily comprehensive. It should not be assumed that the property has all necessary planning, building regulation or other consents and Savills have not tested any services, equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. Designed and Produced by Savills Marketing: November 2016 CGI of proposed scheme: Site 2